Kura Oncology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Kura Oncology (NASDAQ: KURA) announced the granting of inducement awards to five new employees on June 2, 2025. The awards consist of nonstatutory stock options to purchase 79,200 shares of common stock under the Company's 2023 Inducement Option Plan. The stock options have an exercise price of $6.30 per share, matching the company's closing price on the grant date. The options will vest over four years, with 25% vesting after one year and the remaining balance vesting monthly over the following 36 months, contingent on continued employment. These grants were approved by the Compensation Committee as inducement material for employment in accordance with Nasdaq Listing Rule 5635(c)(4).

Positive

• Stock options align new employee interests with shareholder value
• Structured vesting schedule helps with employee retention

Negative

• Potential dilution of existing shareholders from new stock options

SAN DIEGO, June 06, 2025 (GLOBE NEWSWIRE) -- Kura Oncology, Inc. (the “Company”) (Nasdaq: KURA), a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer, today announced that on June 2, 2025, the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”) granted inducement awards consisting of nonstatutory stock options to purchase 79,200 shares of common stock to five (5) new employees under the Company’s 2023 Inducement Option Plan, as amended. The Compensation Committee approved the stock options as an inducement material to such employees’ employment in accordance with Nasdaq Listing Rule 5635(c)(4).

Each stock option has an exercise price equal to $6.30 per share, the Company’s closing sales price on June 2, 2025, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the applicable vesting commencement date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to the new employees’ continued service relationship with the Company through the applicable vesting dates. The stock options are subject to the terms and conditions of the Company’s 2023 Inducement Option Plan, as amended, and the terms and conditions of an applicable stock option agreement covering the grant.

About Kura Oncology

Kura Oncology is a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer. The Company’s pipeline consists of small molecule drug candidates designed to target cancer signaling pathways. Ziftomenib, a once-daily, oral menin inhibitor, is the first and only investigational therapy to receive Breakthrough Therapy Designation from the U.S. Food and Drug Administration (“FDA”) for the treatment of relapsed/refractory (“R/R”) NPM1-mutant acute myeloid leukemia (“AML”). In November 2024, Kura Oncology entered into a global strategic collaboration agreement with Kyowa Kirin Co., Ltd. to develop and commercialize ziftomenib for AML and other hematologic malignancies. Enrollment in a Phase 2 registration-directed trial of ziftomenib in R/R NPM1-mutant AML has been completed, and in the second quarter of 2025, the companies announced the FDA’s acceptance of a New Drug Application for ziftomenib for the treatment of adult patients with R/R NPM1-mutant AML and assignment of a Prescription Drug User Fee Act target action date of November 30, 2025. Kura Oncology and Kyowa Kirin are also conducting a series of clinical trials to evaluate ziftomenib in combination with current standards of care in newly diagnosed and R/R NPM1-mutant and KMT2A-rearranged AML. KO-2806, a next-generation farnesyl transferase inhibitor, is being evaluated in a Phase 1 dose-escalation trial as a monotherapy and in combination with targeted therapies for patients with various solid tumors. Tipifarnib, a potent and selective farnesyl transferase inhibitor, is currently in a Phase 1/2 trial in combination with alpelisib for patients with PIK3CA-dependent head and neck squamous cell carcinoma. For additional information, please visit Kura’s website at https://kuraoncology.com/ and follow us on X and LinkedIn.

Contacts

Investors:
Patti Bank
Managing Director
(415) 513-1284
patti.bank@icrhealthcare.com

Media:
media@kuraoncology.com

FAQ

How many shares of KURA stock options were granted in the June 2025 inducement awards?

79,200 shares of common stock were granted as nonstatutory stock options to five new employees.

What is the exercise price for KURA's June 2025 inducement stock options?

The exercise price is $6.30 per share, which was Kura Oncology's closing price on June 2, 2025.

What is the vesting schedule for KURA's June 2025 inducement stock options?

The options vest over 4 years, with 25% vesting after one year and the remainder vesting monthly over 36 months.

What is the purpose of KURA's inducement stock option grants?

The stock options serve as inducement material to attract new employees to join Kura Oncology.

Under which plan were KURA's June 2025 inducement awards granted?

The awards were granted under Kura Oncology's 2023 Inducement Option Plan, as amended.